Executive Summary:
This notification amends the Foreign Trade Policy 2015-2020, introducing an additional ad hoc incentive for exports of specific mobile phones. This incentive is available for exports made between January 1, 2020, and March 31, 2020. Applications for MEIS for specified codes will also be considered for this additional incentive.
Key Points / Main Content:
Additional Ad Hoc Incentive:
* A 2% additional ad hoc incentive is available alongside rewards under the Merchandise Exports from India Scheme (MEIS).
* The incentive applies to exports made between January 1, 2020, and March 31, 2020.
* Calculation is based on the realized Free on Board (FOB) value of exports in free foreign exchange or the FOB value in freely convertible foreign currencies as per shipping bills, whichever is lower.
* Existing MEIS provisions in the Foreign Trade Policy 2015-20 and Handbook of Procedures 2015-20 apply to this additional incentive.
Eligible HS Codes:
* The incentive applies to the following HS codes:
* 85171211: Mobile phones, other than push-button type
* 85171219: Mobile phones, push-button type
Application:
* Applications for MEIS for the specified HS codes will also be considered as applications for the additional ad hoc incentive.
Impact Analysis:
Exporters of Mobile Phones (HS Codes 85171211 and 85171219):
* Impact: Benefit from a 2% additional ad hoc incentive on exports made between January 1, 2020, and March 31, 2020, in addition to MEIS rewards.
* Action Required: Ensure exports are made within the specified period to avail of the incentive and apply for MEIS, which will be considered for the additional incentive as well.
Key Entities Referenced
Foreign Trade Policy 2015-2020: A policy document regarding foreign trade, amended by this notification.
Foreign Trade Development and Regulation Act, 1992: An act of the Indian Parliament that empowers the Central Government to make provisions relating to foreign trade.
Ministry of Commerce and Industry: The Indian government ministry responsible for the formulation of foreign trade policy.
New Delhi: The location where the notification was issued.
MEIS: Merchandise Exports from India Scheme, a scheme providing rewards for exports.
Amit Yadav: Director General of Foreign Trade and Ex-officio Additional Secretary.
HS Codes 85171211: Harmonized System code for 'Mobile phones, other than push button type'.
HS Codes 85171219: Harmonized System code for 'Mobile phones, push button type'.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99
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असाधारण
EXTRAORDINARY
भाग II—खण्ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
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MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
NOTIFICATION
New Delhi, the 29th Jannuary, 2020
No. 43/2015-2020
Subject: 2% Additional Ad Hoc Incentive for Two HS Codes
S.O. 453(E).—In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and
Regulation) Act, 1992 read with Para 1.02 of the Foreign Trade Policy, 2015-2020, the Central Government hereby
makes the following amendments in the Foreign Trade Policy 2015-2020 with immediate effect:
2. The following para is added in the Chapter 3 of the Foreign Trade Policy, 2015-20.
“3.25 A 2% Additional Ad hoc Incentive for 2 HS Codes/ tariff lines, as below :
i. 85171211 - Mobile phones, other than push button type and
ii. 85171219 - Mobile phones, push button type
would be available, along with the rewards under MEIS for exports made in the period 01.01.2020 to
31.03.2020 only. The basis of calculation of reward would be on realised FOB value of exports in free
foreign exchange, or on FOB value of exports as given in the Shipping Bills in freely convertible foreign
currencies, whichever is less, unless otherwise specified. All other provisions as applicable for MEIS in the
Foreign Trade Policy, 2015-20 and Handbook of Procedures 2015-20, shall be applicable for the 2%
Additional Ad Hoc Incentive as well. The application for MEIS for the said codes would be considered as
an application for the Additional Ad hoc Incentive also.”
Effect of this Notification: A 2% Additional Ad hoc Incentive for 2 HS Codes/tariff lines 85171211 and 85171219
is notified for exports made with Let Export date from 01.01.2020 to 31.03.2020.
[F. No. 01/61/180/178/AM 20/PC3]
AMIT YADAV, Director General of Foreign Trade & Ex-officio Addl. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.